There's too much bad. The worst is mediocre. Bad is easy. There's high quality, there's pornography, and then there's bad.

Some people have made a fortune by being employed. Jerry Bruckheimer does not own his content. Warner Bros. owns his shows. They are on CBS, and he makes a fortune.

The first reaction is, get defensive. Second reaction is, what are we going to do about it?

I think the water cooler is more important than ever. "Oh, did you hear that 'Inside Amy Schumer' is fabulous?" Where do you find it? It's on Netflix, it's on iTunes, it's on places nobody ever heard of five years ago.

Almost any show that has reviewers behind it, Rotten Tomatoes behind it, will find a way to survive.

There's too much bad. The worst is mediocre. Bad is easy. There's high quality, there's pornography, and then there's bad.

When CNN launched in the early 1980s, everybody said: A 24-hour news network won't work. They launched, they did ok, CNN went almost bankrupt because of the risks they had taken, they got bailed out, and 25 years later CNN is a huge global brand. I think the same is going to happen in digital. If you look at the younger generation, there is a huge consumption of digital media and almost no consumption of print or traditional television. Eventually money will follow that. It is just a question of which companies win, how long it takes to get there and what kind of model you need to apply.